301– SM Syllabus 2023 (Semester III) Chapter 1: Understanding Strategy A strategy is a long-term plan of action designed to achieve a particular goal or set of goals. It is a blueprint for how an organization or individual intends to allocate resources, prioritize actions, and make decisions in order to achieve their objectives. Strategy is about making thoughtful and deliberate choices about how to achieve your goals, and aligning your actions, resources, and decision-making with those choices. Corporate level strategy: This is the highest level of strategy and is concerned with the overall direction and scope of the entire organization. It involves decisions about what businesses to be in, what markets to compete in, and how to allocate resources among different business units. Business level strategy: This level of strategy focuses on a specific business unit or subsidiary within the organization. It involves decisions about how to compete in a specific market or indust...